State Street Corp cut its stake in shares of PetMed Express, Inc. (NASDAQ:PETS) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 646,865 shares of the company’s stock after selling 20,898 shares during the period. State Street Corp owned about 3.19% of PetMed Express worth $26,260,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Maverick Capital Ltd. purchased a new position in PetMed Express during the second quarter valued at $471,000. Gotham Asset Management LLC purchased a new position in shares of PetMed Express in the second quarter valued at about $1,314,000. Fred Alger Management Inc. purchased a new position in shares of PetMed Express in the second quarter valued at about $162,000. Royal Bank of Canada lifted its position in shares of PetMed Express by 86.5% in the second quarter. Royal Bank of Canada now owns 8,337 shares of the company’s stock valued at $338,000 after acquiring an additional 3,867 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of PetMed Express by 120.7% in the second quarter. Goldman Sachs Group Inc. now owns 157,963 shares of the company’s stock valued at $6,413,000 after acquiring an additional 86,375 shares in the last quarter. Institutional investors own 87.13% of the company’s stock.
Several equities analysts have recently commented on the company. Noble Financial restated a “hold” rating on shares of PetMed Express in a research report on Wednesday, July 26th. Northcoast Research upgraded PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Monday, July 24th. Credit Suisse Group reiterated an “underperform” rating and issued a $19.00 target price on shares of PetMed Express in a research report on Monday, October 2nd. Zacks Investment Research downgraded PetMed Express from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 25th. Finally, ValuEngine downgraded PetMed Express from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. PetMed Express currently has an average rating of “Hold” and an average target price of $42.00.
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Shares of PetMed Express, Inc. (PETS) opened at $37.39 on Tuesday. PetMed Express, Inc. has a 52 week low of $19.21 and a 52 week high of $50.90. The firm has a market capitalization of $768.34, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 2.25 and a beta of 1.09.
PetMed Express (NASDAQ:PETS) last released its earnings results on Monday, October 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The firm had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $63.41 million. PetMed Express had a return on equity of 31.46% and a net margin of 11.58%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. equities analysts anticipate that PetMed Express, Inc. will post 1.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Monday, November 6th will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.14%. PetMed Express’s dividend payout ratio is 53.69%.
In other news, Director Ronald J. Korn sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $35.57, for a total transaction of $35,570.00. Following the transaction, the director now owns 73,833 shares of the company’s stock, valued at $2,626,239.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.00% of the company’s stock.
About PetMed Express
PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.
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